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Canada's Labour market absorbing its population boom is impossible: National Bank

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We are desperately importing people as fast as we can so they can be unemployed and homeless. But the Trudeau government won't even consider lowering immigration or even cutting back on foreign workers.

Last week’s Labor Force Survey (LFS) showed historic growth for Canada’s working-age population. The country added 125k workers just that month, about 4.7% growth when annualized. While the headline data revealed a falling unemployment rate, we emphasized this was largely due to methodology. Increasingly the data considers more people as “long term unemployed,” due to giving up on trying to find employment.  

In short, the country is producing a lot of workers. Finding jobs for all of these workers is proving much more difficult than policymakers had anticipated. 



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